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"1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.
2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.
3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.
4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses." Treasury: Caught Lying Again - The Market Ticker
So, essentially you were predicting when banks would release their earnings reports in April ?
I see you've predicted the dates correctly!
Can you also predict what date Friday will fall on this week?
The market didnt fall today because of bank reports, bank reports showed profits..
But hey, you sounded cool, even if you made it obvious you dont know what you were talking about.. I think everyone in the market knows banks are reporting profits.. http://business.rediff.com/report/20...es-profits.htm
http://www.tradingmarkets.com/.site/news/Stock%20News/2279459/ (broken link)
What I mis analized was the effect of the conversion of equity to stocks and its effect on the market.. the conversion that Obama is responsible for soley.. Its his plan, his actions.. Do I look like a fool with a bad prediction? Most likely, but its because I gave Obama credit for his plan which make banks profitable. The market seen the plan for what it was, a gimick, I just thought the market would fall for it..
some highlights:
The PPPIP "is worse than a lie. Geithner has appropriated the language of his critics and of the forthright to support dishonesty. . . . [H]e is panderingto the interests of a select group of banks who are on a first-name basis with Washington politicians."
--"[Geithner's] plan essentially perpetuates zombie banks by mispricing toxic assets that were mispriced to the borrower and mispriced by the lender which only served the unfaithful lending agent."
--"The last thing we need is a further drain on our resources and subsidies by promoting this toxic-asset market."
--"With most of America's biggest banks insolvent, you have, in essence, a multitrillion dollar cover-up by publicly traded entitites, which amounts to securities fraud on a massive scale."
some highlights:
The PPPIP "is worse than a lie. Geithner has appropriated the language of his critics and of the forthright to support dishonesty. . . . [H]e is panderingto the interests of a select group of banks who are on a first-name basis with Washington politicians."
--"[Geithner's] plan essentially perpetuates zombie banks by mispricing toxic assets that were mispriced to the borrower and mispriced by the lender which only served the unfaithful lending agent."
--"The last thing we need is a further drain on our resources and subsidies by promoting this toxic-asset market."
--"With most of America's biggest banks insolvent, you have, in essence, a multitrillion dollar cover-up by publicly traded entitites, which amounts to securities fraud on a massive scale."
Yep. Think about it...
$13.2 trillion is guaranteed, spent, or backstopped by Fed, Treasury, or FDIC. (NOT the deficit, this is NEW spending)
Of that, 93% has been committed to bailing out the banks. (Refer to my earlier post with the list of weak banks.)
7% of what's left, is committed to the economy, but most of that is social programs spending.
Only $300 billion is actually being used for infrastructure.
$13.2 trillion is guaranteed, spent, or backstopped by Fed, Treasury, or FDIC. (NOT the deficit, this is NEW spending)
Of that, 93% has been committed to bailing out the banks. (Refer to my earlier post with the list of weak banks.)
7% of what's left, is committed to the economy, but most of that is social programs spending.
Only $300 billion is actually being used for infrastructure.
Are you saying that Obama has committed 13.2 trillion in new spending?!!! Give a link to this please!!!
You've already misled one poster I see!
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